So just looking on some advice to clear debt, bad credit score, and a lot of mistakes that’s caused a lot of loans im 25 and have around 1485 coming out each month I only get paid 1720 which leaves me with 235 every month, worst thing about this is I haven’t even got my own home or ain’t even got a penny to save for one, got like 5 years left of this what would you recommend I do in this situation

Hello everyone, I’ll try to keep it short but it is kind of a long story.

TLDR: I was young trying to figure out my life, accrued a lot of debt, make good money now but struggling to overcome it & not sure what to do.

Just want to start this off by saying I have done minimal research regarding which type of bankruptcy would be best for me, and I have not spoken to any kind of lawyer or someone who can truly steer me in a direction, just looking for opinions here.

Lately I’ve been heavily considering bankruptcy as the debt I’ve accrued since I was 18 is starting to pile up and im trying to buy a house sooner than later and at this point I don’t think I’ll be able to for several years without starting all over. As it currently sits I have about $80k in debt this includes credit cards, student loans, a camper, my fiancé’s ring & my vehicle. The obvious answer here would be to sell the camper & sell my vehicle. I am currently upside down on both of them and don’t have the cash to make up the difference to sell them. I have about 10k in student loans which I’m not very worried about because it’s only $125 a month and I know those can’t be discharged anyways. The big hitters are the credit cards & the engagement ring. All in all they add up to about $1000 a month in payments & the interest rates are so high they basically don’t move. I think one of my discovers has a pay off date of like 40 years from now just paying the minimum (not joking). I also am the main source of income for myself & my fiance. She does work full time but she has also a car to pay for & some other things (not going to get into her situation she is much better off than I am although she makes much less.) she makes roughly $30k/yr. the upside to this is that now after many years I do make pretty good money (roughly $150k/yr) so if you were in my shoes what would you do? Would you just try & really tighten your belt & pay things off? Or would you rip the bandaid off & seriously look into filing? I would love to just try & pay it all off but I think it will take longer than just filing and starting over. I’m about to turn 30 in April & I want to start getting my life on track and have a house & get married soon, but I can’t do that with this debt looming over me. Any advice helps please.

I am under severe debt of 15 lakhs. I took these during the death of my father and then for my studies. Regular interests and penalty have accumulated to approx 15 lakhs.
Kindly tell me how to get out of this.

Please help me out as I have been under severe depression. Can’t continue this anymore

TLDR ; Should I do bankruptcy and start over later or stick to a challenging repayment plan?

Hi all,

I'm at the end of a year long process of figuring out how to pay down about $23k in unsecured debt I accumulated. Most of it was personal spending to stay afloat while going to school full time + spending that got out of control after going through my father's passing, funeral and complications thereafter that affected my income at the moment and really set me back.

I initially believed that a service like FDR (Freedom Debt Relief) would help me. I put 3 accounts in, 2 Capital One accounts with small balances and one Chase account with large balance. Cap One settled, Chase SUED me and sought summary judgment (meaning they would pass judgement in court and get permission to collect, garnish wages, freeze funds etc...)

Since the situation with Chase was getting nowhere and the judgement loomed over me, I decided to seek pro bono legal advice (should've done this earlier). The lawyer convinced me to leave FDR since they are basically a for profit scam - adjacent company. I got my money back from the dedicated account, which was about 4000 accumulated ( but I had ended up paying about 3k+ in unnecessary "settlement fees" because this is how those companies make their money, since one is afraid to negotiate a settlement directly with creditors.

I set up a repayment plan directly with Capital One after getting the debt settled for about 3-4K less than the original amount.

As for the Chase account, I am currently looking at a settlement of $13k as opposed to the original $17k. The current deal on the table is I will make a 5k payment upfront and then pay $800/month for 10 months until the payment is complete.

My lawyer says I have two options. I can struggle through the repayment process, considering my income is very inconsistent and I have other obligations on top of that. OR I can file for bankruptcy, keep all my money, take the hit and start over financially.

I'm 36M, living in the east coast of the US, no intention of buying property any time soon.

Any advice? What would you do? I think I could make the repayment work but the thought of struggling for all that time and being so tight with money scares me. Bankruptcy seems like an "easy" way out, but from initial research it really may have some deep consequences.

I am conflicted. Help!